HOUSTON (AFX) - Pipeline operator Kinder Morgan Inc. said Tuesday it retained Morgan Stanley and the Blackstone Group as advisors to help it review a buyout offer led by Chairman and Chief Executive Richard D. Kinder.
The company also said it retained Skadden, Arps, Slate, Meagher & Flom as its legal advisor.
Under terms of the offer, first submitted in May, Kinder, along with senior managers and outside investors, would buy the company for $13.4 billion, or $100 per share, and take the company private. The offer also includes the assumption of more than $8 billion in debt.
Shares of Kinder Morgan closed down 76 cents at $98.75 on the New York Stock Exchange.
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